DUBAI: Saudi Arabia has welcomed India's decision to lift the 6.5 per cent anti-dumping duty imposed on polypropylene imported from Saudi suppliers, including Saudi Basic Industries Corp, a news report has said.
The announcement came just before the visit of the country's minister of commerce and industry Tawfiq Al-Rabiah to New Delhi.
Abdulrahman Al-Zamil, chief of the Saudi Export Development Council, described it as "a welcome move" and said that India had taken this decision in light of the strategic bilateral trade ties, an Arab News report said.
According to Al-Zamil, India imposed anti-dumping taxes on Saudi polypropylene exports, saying it had cheaper feedstock.
India imposed a 6.5 per cent anti-dumping duty in November 2010 on polypropylene imports from Saudi Arabia, Oman and Singapore because it said the shipments, valued at less than normal prices, would hurt domestic manufacturers.
Asked about any intimation sent by the Indian government, Manohar Ram, charge d'affaires at Indian Embassy, told the newspaper that the mission had not been formally informed. But, he said he is aware of the development. A 50-member business delegation led by Al-Rabiah will attend the Indo-Saudi Joint Economic Commission meeting as well as Indo-Saudi Business Council meeting in India this week.
